TU FICO dropped 93 points

[Anonymous]

TU credir report was showing a duplicate entry for an old Wachovia account that was an overdraft line of credit on a checking account. One was showing as delinquent, and a current balance due with the correct lates. The other was only showing as the Charge Off dates. I paid this account in full, and showed as paid in full on the Charge Off entry on 11/10/05.

So I disputed the open entry that was showing a balance due as a duplicate entry. It was removed from my credit report. My score DROPPED from 709 to 616. The dated reported on the Charge Off entry was updated from 11/10/2005 to 5/22/2007, although it was paid on the 11/10/2005 date.

The new negative Reads: You recently missed a payment or the date of your most recent missed payment is unknown.
There is evidence of a late payment on your file as recent as 1 months ago.Most FICO High Achievers, about 93%, have no missed payments at all. But of those who do have a missed payment, it happened nearly 4 years ago, on average.

If you missed a payment, your FICO score evaluates how recently that missed payment occurred. In general, the more recent the missed payment, the more impact it has on your score. In your case, your last missed payment happened recently or the date cannot be determined.

I have NO new lates. This entry now says I have a new late or that the date of the newest late cannot be determined? Is there anything I can do about this or am I up the creek? Any and all advice will be welcome.

Thanks.

[llecs]

Do you have the before listing for both accounts and the after? The details are important.

Without seeing it, I'll guess that a couple things happened at the same time, and 1/2 of it is fixable.

First you used the word "old". How old is this compared to your AAoA? If this is one of or your oldest account, then removing it could have dropped your AAoA and your score. Look at the before report and after. If AAoA is listed, any change to that whole number would have produced a drop in score. I once removed an unpaid CO on DW's report and her score dropped by several points. Even though the account was bad, it dropped her AAoA from 3 yrs to 2 yrs and that dropped her score. Unfortunately, there's nothing that can be done to fix that, other than let time go by w/out apping for anything. Sometimes the age helps more than the baddie hurts.

You used the word "updated" in describing two dates. Was this the DOLA date? Reported date? Are you sure the balance on this reads as "$0". Looks like this account used to read as a baddie from 2005, now 2007. A paid CO is just as bad as an unpaid CO, in a situation like this. They could have changed the DOLA to 2009. Looks like they updated it by two years and FICO is reading is as a newer baddie.

IMO, the late reference is unrelated to Wachovia. Do you have any other COs?

[Anonymous]

Thanks.

UGH. You are correct. I have a BOA CO that was paid in full in May 2005. The prior reporting date was 4/06/2008. It now shows 4/22/09. It does show paid.

Why would they update a paid in full closed account? Is there anything I can do to have it not show like a 1 month old late? I am in the process of getting a mortgage and this will kill me.

[llecs]

The change in dates can easily be caused by a dispute, a GW letter (if paid), etc. However, I don't think that is the culprit. FICO is clear that an unpaid debt just updated with a late of some sort. Could easily be a 30-120+ day, or even a "CO" reference.

[Anonymous]

For the longest time, the account was being marked OK for each month since I paid it in full. When my score dropped, the OKs were repleaced with ND and 1 random CO.

I disputed the random CO designation after I made full payment. BOA deleted the TL from all 3 CRAs. My TU is back to 709.